Bitcoin and Ethereum ETF flows positive for multiple consecutive days

Both Bitcoin and Ethereum ETFs show a positive trend in terms of capital flows. On 7 July, money again flowed into the spot ETFs of both coins, extending the consecutive streaks of net inflows.

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Bitcoin ETF sees third consecutive day of inflows

According to data from SoSoValue, the spot Bitcoin ETFs recorded a net inflow of $21.4 million on 7 July. This extends the positive streak to three consecutive days. Earlier this week, the Bitcoin ETFs attracted $266 million on 6 July, indicating that sentiment among institutional investors has been predominantly positive in recent days.

The Bitcoin price is currently at $62K, a decline of 1.9% over the past 24 hours. Despite the price drop, inflows into the ETFs continue, suggesting that investors retain long-term confidence in Bitcoin. SoSoValue’s chart shows that the total net assets of the spot Bitcoin ETFs currently stand at $77.3 billion.

Ethereum ETF extends further with four days of inflows

The spot Ethereum ETFs are doing slightly better in comparison. On the same day, $26.9 million flowed in, extending the positive streak to four consecutive days. This means Ethereum outperforms the Bitcoin ETF inflows on a daily basis, although the total assets are still much smaller than those of the Bitcoin products.

For those who want to follow more Ethereum news, it is interesting to see that ETF demand is picking up while the broader crypto market is under pressure. Whether the inflows continue in the coming days depends partly on how the price of both Bitcoin and Ethereum develops further. Analysts such as Michaël van de Poppe see the Bitcoin price moving towards $68.000, which, if realised, could further boost inflows.